For 1, I am 100% sure you can.
For 2, since this was old sweep option, you technically also do not need to sell it.

So, you can add up 1 and 2 to buy RMMXX.

For 3, I am not so sure. But, usually if 1. and 2. are zero-ed out, the accrued dividends will be deposited directly into your account. At that point, you can buy RMMXX since the minimum subsequent investment is only $1.

Keep a lookout for the ‘free trade’ counter. I believe RMMXX does not count as one trade but track it to be sure with your initial investment. This will help you decide if you want to purchase the subsequent investment if it costs you one free trade.

I am planning on buying RMMXX as cash sweep option for my WellsTrade traxable account after reading your blog.

I have some money in each of the following:

1. Wells Fargo Cash Sweep – FDIC
2. Money Market Funds (old sweep account – WF Adv Treasury Plus Money Market Fd-Cl A)
3. Accrued Interest/Dividends

My question is,

If I have to buy RMMXX, do I need to sell fist WF Adv Treasury Plus Money Market Fd-Cl A and also Wells Fargo Cash Sweep – FDIC ?

Can I add up all the above Cash and Equivalents (eg, 1+2+3) and buy RMXX?

Would appreciate if you could answer my queries Thanks in advance.

It is true that with margin-enabled you can buy before the cash is available. However, this does not work for my IRA.

For my taxable account, in fact I do not even bother to leave any cash there. I withdraw the money into Fidelity as soon as it is available.

I’m looking for a software package to manage my portfolio (something more sophisticated than Quicken), so I would like to know the name of the application from which the screenshot in your post was taken? Is this something you wrote yourself or something that is commercially available?

Ivan